Greystone has provided $23.8 million in HUD-insured loans to refinance a three-property assisted living portfolio in New Hampshire. The Interest Rate Reduction (IRR) transaction was originated by Lisa Fischman, vice president in Greystone’s New York office, on behalf of family owned The Courville Co.
The portfolio includes Courville at Manchester, Courville at Carlyle Place and Courville Nashua & Aynsley.
“An IRR is a good option for mortgagors who have held their asset since before rates dropped earlier this year,” said Fischman. “At Greystone, we are continually seeking ways to help our clients leverage market dynamics so they can optimize their real estate portfolios, and an IRR is especially valuable in the assisted living and skilled nursing markets, which are under intense fiscal pressure today dealing with COVID-19.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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